2035

New England & Nevada SMC Stock Certificate [130981]

Currency:USD Category:Coins & Paper Money / Stock & Bond - Mining Start Price:75.00 USD Estimated At:150.00 - 250.00 USD
New England & Nevada SMC Stock Certificate  [130981]
SOLD
60.00USDto j*****0+ buyer's premium (13.20)
This item SOLD at 2022 Feb 25 @ 08:46UTC-8 : PST/AKDT
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New England and Nevada Silver Mining Company stock certificate Number 373, issued to W.G. Blakely, for 100 shares on November 8, 1866, signed by treasurer Wm. J. Osborne and president William Sias. 11 x 7.5 inches. Pink embossed seal attached in lower left. Some loss of the paper edges on the lower left and lower right. Signatures on the back have faded to near obscurity. Some darkening along the original folds, but otherwise an attractive piece. This stock issue was the brainchild of Julius Lewis Trefren, a New Hampshire-born pastor who came to Austin, Nevada, with the challenge of building a Methodist Church and finding a way to fund it. In 1866, Nevada was the talk of the States, and everyone had gold and silver fever. Those that couldn't travel to the West to make their fortune sought to invest, so Pastor Trefren started the New England and Nevada Silver Mining Company. Those who bought the stock hoped for returns based on potential earnings of Austin's silver claims. Trefren built the church from the proceeds, and what a church it turned out to be! At the time, only the Catholic Church in Virginia City was bigger, and his church installed what may have been the first church organ in Nevada. The building is still one of the state's oldest surviving Methodist churches. But all was not as it seemed -- the company sold $250,000 in stock -- but only on paper! Shares had been sold on consignment at a time when the mining fervor in Austin had waned. The real sales were $29,000, and the cost of construction was $35,000. The congregation soon sold the building to Lander County for use as a court house, but eventually the members of the church raised the $6,000 and bought the building back. Three years later, Trefren was transferred to California where he preached in Napa, Sacramento, Grass Valley, Marysville, and other places.

Date: 1864
Country (if not USA):
State: Nevada
City: Austin, Lander Co.
Provenance: Joe Elcano Nevada Mining Stock Collection